I have a friend who fell on some hard times a couple years ago and I have been helping him. Shortish version, he is a recovering alcoholic who had been sober for many years. 3-4 years ago things were going well for him but he started drinking, got a couple DUIs close together, and lost a good job because of it. He got straightened out and is sober again. Both his elderly parents passed away around then and he received enough money from the estate that it was not immediately necessary for him to get a job. A year or two later the cash is drawn down and getting a job proved hard. He sold off what he could but needed help.
Over the past couple years I have helped him out with monthly expenses. Early on it was a couple sizable loans of like $800-$1,000 which got him out of the hole and on solid footing. He was able to get a couple part time jobs and he didn’t need any help for a while. Now in the last 6-8 months he has had to borrow +/-$350-500 four or five times.
He is late 40s, very intelligent, and capable of hard work. He’s been working part time at a print shop and delivering pizza. I don’t know if he has tried and failed to get a full time factory type job or not. Seems like lots of places locally like Ameriqual, Berry Plastics, TJ Maxx, etc. are all running ads for entry level hires.
I am uncomfortable asking pointedly if he’s looked for a better job, I don’t want it to seem like a condition for helping. My feelings on loaning money to friends have always been this: if they are in need, the money is a gift. If they are able to give it back in the future great. If not, it was a gift and I hold no ill will. I do keep track though and the amount is now over $6,000.
Thoughts INGO? Do I give him a heads up that I’m done or do I just wait till he calls and say sorry, no. I can afford to help but it IS a decent sum and I wouldn’t mind having it for other things.
Over the past couple years I have helped him out with monthly expenses. Early on it was a couple sizable loans of like $800-$1,000 which got him out of the hole and on solid footing. He was able to get a couple part time jobs and he didn’t need any help for a while. Now in the last 6-8 months he has had to borrow +/-$350-500 four or five times.
He is late 40s, very intelligent, and capable of hard work. He’s been working part time at a print shop and delivering pizza. I don’t know if he has tried and failed to get a full time factory type job or not. Seems like lots of places locally like Ameriqual, Berry Plastics, TJ Maxx, etc. are all running ads for entry level hires.
I am uncomfortable asking pointedly if he’s looked for a better job, I don’t want it to seem like a condition for helping. My feelings on loaning money to friends have always been this: if they are in need, the money is a gift. If they are able to give it back in the future great. If not, it was a gift and I hold no ill will. I do keep track though and the amount is now over $6,000.
Thoughts INGO? Do I give him a heads up that I’m done or do I just wait till he calls and say sorry, no. I can afford to help but it IS a decent sum and I wouldn’t mind having it for other things.